What is horse racing odds?
‘Horse Racing Odds’ are the payback you can contemplate to get if the horse you gambled wins. It tells the amount of money gambled on a horse; the shorter the odds, reflects that more money is invested.
When horse racing odds are shown in the pattern of 5-1, 7-2, etc., it demonstrates the amount of gain to the money invested. Therefore, odds of 5-1 means that for each $1 invested, the gambler gets $5 profit back. This indicates that when you place $1, the total return will be $6 if the bet is successful.
- Calculating the odds
While creating the horse racing odds, the bookmakers look at nine to ten different factors for the force race. They will mainly review the jockey, the current trainer, the performance of the horse, the current weather forecast and many other factors.
From that, you get the price of every horse which has participated in the race. Now, the favourite would be an even-money shot, i.e., 2 to 1, which is the lowest price you can get.
As you go out of it, the higher the price you might get. So might get 100 to 1, which means you put one pound on it, you’d win a hundred. Although, the bookies sometimes can get wrong too
- Odds on the display
If you look at the screens in any one of the shops, you’ll see the race written up. On the left-hand side, you’ll see the number of horses that participated in the race. In the middle of the screen, you will have the name of the horses (Note: every horse will have a unique name).
The prices will be displayed on the right-hand side of the screen. The rate will be arranged in descending order; this means that the horse at the top will have the highest price, followed by other
- Complicated odds
But price doesn’t necessarily need to be a single-digit; for example, 9-1 means if you put one pound, you will win nine pounds. There is all kind of other variation, so if you look at the board on time, you might see 11-2, which for two pounds you win eleven pounds. So, six and a half two is just making it easier for you to understand the terms.
- Internet odds
If you go on to the internet site, in the top right corner, you will get an option of whether to have the odds in fractions or decimals. Infraction form, ‘even money’ means if you put one pound and if you win one pound that will come in the screen as strike one.
For the decimals, it will be 2.0; it will make sure that you get back your stake money. When your selection wins, so, if you put one pound and if you win, you will get your one pound back.
Although, the horse racing odds-on screen will never show the real possibility of an event happening or not happening. Therefore, never rely on the odds to win the betting.